Rite Aid and GNC Announce Extension of Partnership Through 2019
CAMP HILL, Pa. - December 19, 2013 - (BUSINESS WIRE) - Rite Aid Corporation (NYSE:RAD), one of the nation’s leading drugstore chains, and GNC (NYSE:GNC), a leading global specialty retailer of health and wellness products, announced today an agreement which extends and expands their existing partnership through 2019. The agreement enables Rite Aid to add at least 300 additional GNC LiveWell™ store-within-a-store locations inside its stores over the next five years. Rite Aid and GNC have had an exclusive partnership in the chain drug channel since December 1998.
"With the extension of our retail agreement with GNC, we will be able to continue bringing our customers the outstanding lineup of highly popular GNC products they trust while delivering on our mission of helping our customers meet their unique health and wellness needs."
"Rite Aid’s strategic partnership with GNC is a point of differentiation, both in the chain drug industry and with our customers," said Ken Martindale, Rite Aid president and chief operating officer. "With the extension of our retail agreement with GNC, we will be able to continue bringing our customers the outstanding lineup of highly popular GNC products they trust while delivering on our mission of helping our customers meet their unique health and wellness needs."
As of Dec. 19, there are more than 2,200 GNC stores-within-a-store operating in Rite Aid stores across the country, including a majority of Rite Aid wellness stores.
"Rite Aid has long been an important part of GNC’s growth strategy, serving as an invaluable partner as we’ve worked to grow our brand," said Tom Dowd, GNC executive vice president, chief merchandising officer and general manager. "As a leading global specialty retailer of vitamins, minerals, and herbal supplement products, sports nutrition products and diet products, GNC shares Rite Aid’s commitment to improving the health and wellness of its customers. We look forward to working together to bring our successful ‘store-within-a-store’ to more Rite Aid pharmacies over the next five years, making it easier than ever for people to live well."
About Rite Aid Corporation
Rite Aid Corporation is one of the nation's leading drugstore chains with nearly 4,600 stores in 31 states and the District of Columbia and fiscal 2013 annual revenues of $25.4 billion. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com.
About GNC Holdings, Inc.
GNC Holdings, Inc., headquartered in Pittsburgh, PA, is a leading global specialty retailer of health and wellness products, including vitamins, minerals, and herbal supplement products, sports nutrition products and diet products, and trades on the New York Stock Exchange under the symbol "GNC." The Company – which is dedicated to helping consumers Live Well – has a diversified, multi-channel business model and derives revenue from product sales through company-owned retail stores, domestic and international franchise activities, third party contract manufacturing, e-commerce and corporate partnerships. GNC's broad and deep product mix, which is focused on high-margin, premium, value-added nutritional products, is sold under GNC proprietary brands, including Mega Men®, Ultra Mega®, Total Lean™, Pro Performance®, Pro Performance® AMP, Beyond Raw®, and under nationally recognized third party brands. As of September 30, 2013, GNC has more than 8,400 locations, of which more than 6,300 retail locations are in the United States (including 984 franchise and 2,206 Rite Aid franchise store-within-a-store locations) and franchise operations in 54 countries (including distribution centers where retail sales are made). Learn more at www.gnc.com.